Week in review

Quote of the week

“When a man spends his own money to buy something for himself, he is very careful about how much he spends and how he spends it. When a man spends his own money to buy something for someone else, he is still very careful about how much he spends, but somewhat less what he spends it on. When a man spends someone else’s money to buy something for himself, he is very careful about what he buys, but doesn’t care at all how much he spends. And when a man spends someone else’s money on someone else, he doesn’t care how much he spends or what he spends it on. And that’s government for you.” – Milton Friedman

Sarah Palin’s Career Ends in Tragedy

by Lew Rockwell

“The frenzied reaction of the middle class all over the country toward Sarah Palin has no real precedent that I can remember. Indeed, the reaction especially among women is completely understandable. She provides a much welcome cultural break from the chip-on-the-shoulder, grudge-against-the-world model of public women that have been held up to us for years, embodied in the belligerent and insufferable person of Hillary Clinton.” more…

The Great Firewall of Net Neutrality

by Tim Swanson

“The internet is not a public utility, nor should it be treated as such. In fact, up until the late 1980s the network was largely nationalized and innovated at a snails pace. It was not until the primary backbones and datacenters were privatized that the modern internet was born due to commercial incentives for private entrepreneurs. And by renationalizing the pipes, the federal government will be undoing all of the liberalization that has made the internet glorious.” more…

Ron Paul’s Rally for the Republic Speech

See the video here. Then as an exercise you can compare it with these words and cry when you think about how our fellow citizens could be so dimwitted as to nominate him. His kind of freedom is simply the kind where you are free to fulfill your duty to the state…

Reading through said speech today, yeah I know last week’s news, but nonetheless he said sarcastically, “No health care? The market will fix it.”, implying that the market had failed.

What planet is he living on, because the country I know does not have a free market in healthcare. When the government pays over 40% of the country’s healthcare bill it so overwhelms any private expenditure as to make the market, even if nominally free, unfree.

In a nutshell Medicare cost $401.3 billion, Medicaid $308.6 billion, private insurance paid $723.4 billion, and out-of-pocket expenses were $256.5 billion for a total of $1689.8 billion in healthcare expenditures over the course of a year. The government’s share of that was $709.9 billion or about 42%. So again I ask how can you talk about a free market when the government already controls 42% of it. I would suggest that what is bad about the healthcare industry lies in that 42% compounded with the burdensome regulations put on hospitals, drug companies, medicial equipment manufacturers, and insurance companies. Did you know that the HMO is a creation of the government? So again I ask, what free market?

Senator Balambalamba, despite his elegant way of saying things is dangerous, but perhaps no less dangerous than the competition, which hopefully I will have cause to criticize soon. That said, I do somewhat like Sara Palin, and hell maybe it’s just because she’s kinda cute because all I know about her is what I read in her RNC speech, which tended towards vacuity as most political speeches tend to, except Ron Paul’s. Nonetheless I agree with Lew Rockwell’s sentiment, which is that whatever good she has in her will be sapped out of her shortly by Leviathan.

Finally for what it is worth, note that Balambalamba and McLame are reading from a nearly identical foreign policy book. The empire will be maintained at all costs. It’s just a matter of degree as to how aggressively we expand it.

Nor do either of them acknowledge our debt problem, much less plan to do anything about it! See below for the weekly debt figure and its increase over last week, but remember this leaves out the $50 trillion social security/Medicare liability, which is criminal, because if the private sector accounted like the government the CEOs and CFOs would be fired, jailed or both.

Anyway, please find time to watch Ron Paul’s speech. He presents the true face of freedom, which is born of self-responsibility and voluntary cooperation.

And now the numbers

DOW Jones Industrials – 11,220.96 (-322.59)
Wilshire 5000 – 12,702.58 (-585.94)
CSI 300 (China) – 2,183.43 (-208.21)
BSE 500 (India) – 5,615.12 (-16.39)
MICEX (Russia) – 1,234.71 (-114.21)
BOVESPA (Brazil) – 51,939.60 (-3,740.81)
Gold/oz – 802.80 (-32.40)
Silver/oz – 12.325 (-1.382)
Copper/lb – 3.0985 (-0.2885)
Oil/bbl (Brent) – 104.09 (- 9.96)
Wheat/bu (CBT) – 7.515 (-0.4975)
Corn/bu – 5.485 (-0.365)
Rough Rice – 18.90 (UNCHG)
Dollar/Euro – 1.4274 (-0.0403)
Yuan/Dollar – 6.8375 (-0.0067)
Yen/Dollar – 107.775 (- 1.04)
Dollar/Real – 0.5816 (-0.0334)
3 Month Treasury – 1.77 (+ 0.06)
2 Year Treasury – 2.30 (- 0.07)
10 Year Treasury – 3.70 (- 0.11)
30 Year Treasury – 4.30 (- 0.12)
Fed Target Rate – 2.00 (UNCHG)
U.S. Public Debt – 9,668,194,123,052.30 (+17,866,545,090.71)

Well, the football game traffic wasn’t as bad as many said it would be. Though they sure do start tailgating early, like 8AM for a 3:30PM game. Guess you can’t start drinking too soon when there’s football to watch. Speaking of which, the NFL opened Thursday night with the Giants beating the lackluster Redskins. I watched a bit of the game, but turned it off about half way through the third quarter. In any case my beloved Broncos play the Raiders Monday night at the dump of a stadium in Oakland. Go Broncos, avenge last season’s loss!

Well given my longish rant above in the “news” section I’ll just call it a week here. Happy weekend everyone!

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